S&P 500 to Add AK Steel

Updated June 27, 2008 12:01 a.m. ET

NEW YORK -- Standard & Poor's Corp. said AK Steel Holding Corp. will replace Countrywide Financial Corp. in the S&P 500-stock index after the close of trading Monday. Countrywide is being acquired by Bank of America Corp. in a deal expected to close on or about that date, pending final approvals.

AK Steel is a West Chester, Ohio, producer of flat-rolled carbon, stainless and electrical steels for automotive, construction and other...